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Former GE CEO: Based on Inauguration Speeches, Obama Appears 'Comfortable With High Unemployment and Huge Deficits


"No serious mention"

(Photo: AP)

(Photo: AP)

Former General Electric CEO Jack Welch came out swinging against President Barack Obama yet again the night of the inauguration.  Back in October, Welch was ridiculed for saying the administration may have manipulated jobs numbers ahead of the 2012 election, and yesterday his concern was once again unemployment.

"Inaugurals always magnificent...appears Pres. Obama comfortable with high unemployment and huge serious mention," he wrote on Twitter.

The Huffington Post has consequently labeled Welch an "economic conspiracy theorist" along with Rush Limbaugh, Karl Rove, Donald Trump, Ron Paul and CNN's Erin Burnett (apparently she said that Federal Reserve policies have caused the price of food and gas to rise).

The Huffington Post also notes that the unemployment rate, currently at 7.8%, is roughly the same as it was when President Obama assumed office.  They do not, however, point out that the massive contraction in the U.S. labor force keeps the numbers lower than they would otherwise be.

Click here to read TheBlaze's Becket Adams breakdown of President Obama's first term "by the numbers," which also includes an overview of the national debt.

The reaction on Twitter to Welch's statement has been mixed.  While 305 people have retweeted the note and 57 people have "favorited" it as of this article's publication, there have also been some frightening responses.

One man, who apparently likes to write in all capital letters, told Welch to "drop dead" and that even with all his money, he is still a "racist son of a bi***."

Content warning:

In fact, President Obama did touch on the jobs situation during the inauguration, but it was limited to broad, sweeping statements.

“We know that America thrives when every person can find independence and pride in their work,” he stated. “When the wages of honest labor liberate families from the brink of hardship.”

He also said: “We, the people, understand that our country cannot succeed when a shrinking few do very well and a growing many barely make it.”



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